A recent report published by
Infinium Global Research on the construction paints and coatings market provides an in-depth analysis of segments and sub-segments in the global as well as
regional construction paints and coatings market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
construction paints and coatings market over the short term as well as long
term. The report is a comprehensive presentation of trends, forecasts, and dollar
values of the global construction paints and coatings market. According to the
report, the global construction paints and coatings market is projected to grow
at a CAGR of 4% over the forecast period of 2022-2028.
The Global Construction Paints and
Coatings Market was valued at more than USD 50 Billion in 2022 and is expected
to reach over USD 65 Billion in 2028, with a CAGR of 4% during the forecast
period. Construction Paints and coatings are varnish and paint materials
including liquid and powder. This paint material is generally used in buildings
and construction to protect and decorate surfaces. It enhances the resistance
of several surfaces and protects the surface from weathering and rust. It has
architectural applications including, building panels, commercial windows,
curtain walls, etc. It is also used in the automotive, and aviation sectors.
This coating makes the surface more durable and enhances architectural beauty.
Increasing decoration and renovation activities will globally propel the growth
of the construction paints and coatings market during the forecast period.
Moreover, the rapidly expanding commercial and industrial sector is also one of
the growth factors for the market.
The global construction paints and
coatings market is primarily driven by factors including the high demand for
efficient paints and rising activities in infrastructure and civil
construction. Moreover, rising new construction projects and increasing demand
for repainting across the globe are expected to fuel market growth in the near
future. Moreover, drastically growing urbanization along with the rising
disposable income of consumers is projected to propel the demand within the
forecast period. Increasing high-quality coating and color paints in the residential
sector will increase the demand for paint and coating products. However,
stringent regulations by various countries' governments of environmental
protection owing to that there are very less number approved chemicals present
are expected to hinder the demand for the global construction paints and coatings
market. Nonetheless, the increasing practice of green buildings and products
including green coating, Nano-coatings, etc. is anticipated to create a new
opportunity for the global construction paints and coatings market.
The outbreak of the covid-19
pandemic has negatively affected the expansion of the market during the
forecast period. As per the economists, the Chinese economy is probably going
to be hit further by reduced global demand for its products because of the
effect of the outbreak on economies around the world. Because of pandemic
escalates, the expansion rate will fall sharply against the backdrop of
volatile markets and growing credit stress. Restrictions on movement in Europe
and also the US are putting a severe dent in economic activity. India and
Southeast Asian countries also are facing major disruptions in their economies.
Because of this factor, the expansion of the market is restrained during the
covid-19 pandemic within the forecast period.
Based on the region, the worldwide
construction paints and coatings market is segmented into the Asia Pacific,
North America, Europe, and also the Middle East & Africa. Among the
regions, North America is the largest region in the construction paints and
coatings market because of the increasing consumption of electronic vehicles
and products. While reduced risks and low costs are projected to play a major
role in propelling the demand in the residential sector in Germany.
Furthermore, the development of advanced civil infrastructure is anticipated to
fuel the construction sector in other European regions such as France, Italy,
and Turkey. Furthermore, increasing investment construction industry due to the
presence of a high population and development in the health care system is
expected to dominate the growth of the Asia Pacific region during the forecast
period.
The report on the global construction
paints and coatings market covers segments such as product and application. On
the basis of product, the sub-markets include powder coating, solvent-borne
technologies, high solids/radiation cure, water-borne coating, and others. On
the basis of application, the sub-markets include medical & healthcare,
residential, automotive & aviation, commercial, and others.
The report provides profiles of
the companies in the market such as BASF SE, Asian Paints, RPM International
Inc., Axalta Coatings System, Helios Group, Tikkurila Oyj, DuPont Performance
Coatings, PPG Industries, Sherwin-Williams Company, and AkzoNobel N.V.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the construction paints and coatings market. Moreover, the study
highlights current market trends and provides forecasts from 2022-2028. We also
have highlighted future trends in the market that will affect the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings insight into the market share of the leading players.
Please Choose One of them.